The Business Times, 18 November 2014

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Total Pages: 38
1 38 The Business Times
  • 29 1 THE BUSINESS TIMES S$1.00 S|jh A SINGAPORE PRESS HOLDINGS PUBLICATION www.businesstimes.com.sg O □@BTBreakingnews CO REGN NO *****2868E MCI (P) 051/08/2014 I Wednesday, October 8, 2014 Tu sday, November 1
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  • 28 1 Monday Change STI 3,288.67 -27.00 KL COMP 1,806.48 -7.31 NIKKEI 225 16,973.80 -517.03 HANG SENG 23,797.08 -290.30 SHENZHEN B 967.96 -1.88 DOW (11am EST) 17, 646.69 +11.95
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  • Article, Illustration
    285 1 The much-anticipated “through train” stock link between the Shanghai and Hong Kong markets took off smoothly on Monday with strong investor demand for China A-shares but weaker mainland demand for Hong Kong stocks. TOP STORIES 2 The newly minted Reit Association of Singapore (Reitas) has rounded up 42
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  • 863 1  -  Abe set to postpone planned hike in consumption tax to 2017 from 2015 and dissolve Parliament for a snap poll in December By Anthony Rowley btworld@sph.com.sg Tokyo JAPAN’S economy slid unexpectedly into recession in the third quarter, making it virtually certain
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  • 414 1  -  $1.8m insurance premium issue surfaces after IPO launch By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore TRANS-CAB Holdings’ initial public offering (IPO) plans have skidded to a halt, with the company having received new information pertaining to its insurance premium. In a
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  • Page 1 Advertisements
    • 64 1 *****4 REITAS THINKING OF SINGAPORE HOCK LOCK SIEW Reinvent rules for remisiers COMPANIES MARKETS 7 Influential thinker and former diplomat Kishore Mahbubani DBS ASIAN LEADERS INSIGHTS 14 Reit body in official launch with 42 members on board SME Advantage in Asian markets VIEW FROM NTU PROFESSORS 37 TOP STORIES 3
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    • 61 1 EMERGENCE OF THE G-2 SYSTEM OPINION, PAGE 34 RICHARD IVIILLE A RACING MACHINE ON THE WRIST u V CALIBER RM 055 BUBBA WATSON BOUTIQUE RICHARD MILLE SINGAPORE Level 1, Grand Hyatt Singapore 65 6733 1313 01-51/52 The Shoppes at Marina Bay Sands 65 6336 1313 AUTHORIZED RETAILERS SINGAPORE THE HOUR
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  • TOP STORIES
    • 852 2  -  But mainland demand for Hong Kong stocks muted; Singapore brokers report encouraging interest By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore THE much-anticipated “through train” stock link between the Shanghai and Hong Kong markets took off smoothly on Monday with strong investor demand for China
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    • 655 2  -  Non-oil re-exports (NORX), a proxy for wholesale trade, fell 5.4 per cent year on year By Chuang Peck Ming peckming@sph.com.sg @PeckmingB Singapore NON-OIL domestic exports (NODX) in October were a tad higher than in September, but still dipped 1.5 per cent from
      Source: IE Singapore  -  655 words
    • 709 2  -  334 transactions there lifts total sales to 765 units, up 18% from 648 in September By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore DEVELOPERS may have sold more units in October than in September, but take away just one project and
      Source: CBRE  -  709 words
    • 370 2  -  By Andy Mukherjee &SH REUTERS BREAKINGVIEW Singapore JAPAN’S surprise recession has clouded its fiscal future. Data released on Nov 17 showed the country’s output has fallen for a second straight quarter. Once again, the modest 3 percentage point increase in Japan’s sales tax rate in April
      &SH REUTERS BREAKINGVIEW  -  370 words
    • 501 2 REUTERS Canberra CHINA and Australia on Monday sealed a landmark free trade agreement more than a decade in the making, significantly expanding ties between the world’s second-largest economy and one of Washington’s closest allies in Asia. The deal, which Australia called
      REUTERS  -  501 words
    • 813 3  -  Half of S-Reit managers are in; smaller Reits could be in wait-and-see mode while reviewing fees By Lee Meixian leemx@sph.com.sg @LeeMeixianBT Singapore THE newly minted Reit Association of Singapore (Reitas) has rounded up 42 members. They include about half the 33 Singapore Reit (S-Reit)
      PHOTO: KEVIN LIM/THE STRAITS TIMES  -  813 words
    • 497 4  -  They note that a successful TPP outcome would depend on the respective ratification process of each country By Lee U-Wen leeuwen@sph.com.sg @LeeUwenBT Brisbane PRIME Minister Lee Hsien Loong’s last order of business on his three-day visit to Brisbane before returning home
      PHOTO: SEAH KWANG PENG/THE STRAITS TIMES  -  497 words
    • 560 4  -  Most believe that the AEC will not happen by next year, but only in the 3-5 years after By Teh Shi Ning tshining@sph.com.sg @TehShiNingBT Singapore BUSINESS leaders across South-east Asia believe that the Asean Economic Community (AEC) presents an opportunity for
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  • Page 2 Advertisements
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  • COMPANIES & MARKETS
    • 611 7  -  Company focusing efforts on developing new magnesium-based construction panel business By Chan Yi Wen yiwenc@sph.com.sg @ChanYiWenBT Singapore WITH the proposed disposal of its loss-making and beleaguered fabric business, Singapore-listed Asia Fashion Holdings is now shifting gears to focus entirely on developing its new
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    • 769 7  -  HOCK LOCK SIEW R SIVANITHY sivan@sph.com.sg @RSivanithyBT THE Securities Investors Association of Singapore (SIAS) has hit one nail on the head with its call to revamp the way that remisiers, or retail trading representatives (TRs), are paid. This is a fundamental consideration one that we have
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    • 457 8  -  Setting up of online financing platform aimed at tapping opportunities from Beijing’s moves to boost waning property market By Anita Gabriel anitag@sph.com.sg @AnitaGabrielBT Singapore MAINBOARD-listed TIH Ltd has tied up with a bad-loans servicing specialist and an online finance
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    • 308 8  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore SINGAPORE Airlines’ (SIA) passenger carriage for October slid 1.2 per cent year-on-year, versus 0.5 per cent growth in capacity, which nudged passenger load factor (PLF) lower to 77.2 per cent. During the month, PLF
      ST FILE PHOTO  -  308 words
    • 277 8  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore CREDIT trends for Asia-Pacific’s shipping, airlines and logistics companies are expected to remain stable over the next year, though an underperforming Chinese economy or major changes to the nation’s economic policy could
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    • 106 8 REUTERS Tel Aviv SINGAPORE investment company Temasek agreed to help fund new technologies emerging from research at Tel Aviv University, the university’s technology company Ramot said on Monday. Temasek agreed with Ramot to invest US$5 million in the US$23.5 million Momentum Fund, which selected
      REUTERS  -  106 words
    • 371 8  -  By Cai Haoxiang haoxiang@sph.com.sg @HaoxiangCaiBT Singapore PROPERTY giant CapitaLand has entered into a 50-50 joint venture with a subsidiary of Indonesian real estate, auto and mining group Credo Group to develop an integrated development in Central Jakarta. The development is not expected
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    • 309 10  -  Works include supporting Australian defence department in creation of geographic info systems ORDERBOOKS By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore BOUSTEAD Singapore’s subsidiary, Esri Australia, has been awarded a landmark A$16.5 million (about S$18.6 million) contract from the Australian Government Department of Defence. The three-year contract
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    • 190 10 Singapore MAINBOARD-listed Midas Holdings’ subsidiary Jilin Midas Aluminium Industries has secured contracts worth 151.7 million yuan (S$32 million) for the supply of high-speed train car body components. The new contracts will see Jilin Midas supply aluminium alloy extrusion profiles and certain fabricated
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    • 231 10 Singapore PACIFIC Radiance has secured a long-term charter contract worth more than US$140 million, including extension options, for one of its vessels. Under the contract, which was secured by the group's joint venture DOT Radiance, the vessel will be chartered to
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    • 169 10 Singapore CSE Global Limited has won two contracts from a US energy company valued at US$17 million for a deepwater project in the Gulf of Mexico. Work has commenced for the two contracts, slated for offshore execution from Q4 2014 to Q4
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    • 274 10  -  By Mindy Tan tanmindy@sph.com.sg @MindyTanBT Singapore MERMAID Maritime Public Company’s Indonesian business unit has chartered-in the ex-Windermere from an affiliate entity of Miclyn Express Offshore Ltd (MEO) for five years at a cost of approximately US$15 million per year, with options
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    • 165 10 BLOOMBERG Hong Kong BILLIONAIRE Thomas Kwok said that Hong Kong’s pro-de-mocracy protests, which are entering an eighth week, have hurt revenue at Sun Hung Kai Properties Ltd’s hotels and bookings for coming months are weaker than a year earlier. The Ritz-Carlton’s
      BLOOMBERG  -  165 words
    • Article, Illustration
      63 12 STI Catalist Straits Times Index NOV 17,2014 3,288.67 -27.00 (-0.81%) Current streak 1 day Day high 3,314.23 Day low 3,285.60 52-week high 3,374.06 (July 31, 2014) 52-week low 2,960.09 (Feb 5, 2014) FTSE ST Catalist Index NOV 17,2014 773.55 -9.49 (-1.21%) Current streak 1 day Day high 785.45 Day low
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    • 607 12  -  Index sheds 27 points, though turnover is little affected, with 1.2b units worth S$1.03b traded STOCKS By R Sivanithy sivan@sph.com.sg @RSivanithyBT THERE were worries before Monday’s session that the Hong Kong-Shanghai connect would divert money and attention away from the local market, but as
      Source: Bloomberg  -  607 words
    • 309 12 Stock name Close Change Day high/low 52w high 52w low PE Div yield Mcap Ascendas Reit 228 -1 230/226 250 206 6.2 5760.9 CapitaLand 324 -1 330/322 348 268 16.2 2.5 *****.2 CapitaMall Trust 197 unch 198/196.5 209 180 5.2 6832.5 CityDev 959 +8 962/948 1118 860 13
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    • 35 12 VOLUME ThaiBev 68,808,000 Memstar Tech 50,920,000 Golden Agri-Res 50,171,000 IHC 44,885,000 Genting Sing 41,520,000 Market volume 1,523,643,000 VALUE SingTel 112,139,600 DBS Grp 57,334,040 Global Logistic 52,318,540 ThaiBev 50,784,755 CapitaLand 50,439,175 Market value 1,050,105,000
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    • 108 12 Most Active Fund Last sale +/-(‘000) Day high/low 52w high/low Buy/Sell Mcap STI ETF 333 -2 238 335/332 343/298 332/333 Nikko AM STI ETF 338 -1 207 340/338 345/300 337/338 8.2 UETF SSE50China 168 -3 92 173/168 173/140 166/168 52.5 DBXT CSI300 US$ US757 +4 58 770/756 784/613
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    • 77 12 Nov 17 VALUE CLOSE BT OB/OS -553.00 -283.00 BT CADI -*****.00 -165.00 BT 10-day MA -*****.00 -55.00 FTSE ST Mid Cap 745.13 -3.56 FTSE ST Small Cap 512.87 -5.06 FTSE ST All Share 792.35 -6.15 FTSE ST China Top 190.58 -1.59 FTSE ST China 223.73 -1.80 FTSE
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    • 35 12 STI FTSE ST All-Share ftse ST All-Share index NOV 17,2014 792.35 -6.15 (-0.77%) Current streak 1 day Day high 797.89 Day low 791.71 52-week high 819.39 (July 31, 2014) 52-week low 722.35 (Feb 5, 2014)
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    • 33 12 STI MSCI EAFE MSCI EAFE Index NOV 14,2014 1,813.19 +0.59 (+0.03%) Current streak 2 days Day high 1,819.94 Day low 1,802.83 52-week high 1,995.49 (July 3, 2014) 52-week low 1,714.64 (Oct 16, 2014)
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    • 186 12 MAIN CATL TOTAL Up Down Unch Up Down Unch Up Down Unch Multi Ind 2 10 3 0 0 0 2 10 3 Manufacturing 39 67 25 8 10 10 47 77 35 Commerce 17 26 15 3 6 5 20 32 20 Tpt/Stor/Comms 10 25 7
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    • 123 12 VOLUME (‘000) VALUE (‘000) MAIN CATL TOTAL MAIN CATL TOTAL Multi Ind 17,137 17,137 68,028 68,028 Manufacturing 289,312 54,798 344,110 141,300 6,959 148,258 Commerce 55,453 50,925 106,378 56,036 2,717 58,752 Tpt/Stor/Comms 99,260 1,679 100,939 190,786 619 191,405 Finance 15,960 50 16,010 128,102 10 128,112 Construction 39,130 37,261
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    • 76 12 BY CENTS CLOSE UP 52w high/low DBXT EONIA US$ ***** 1590.6 7.0 *****/***** DBXT iBoxxKR US$ ***** 772.6 4.0 *****/***** DBXT AUDCS US$ ***** 593.7 2.4 *****/***** GLD US$ ***** 436.9 3.0 *****/***** Lyxor AsiaCS US$ 6225 363.0 4.7 6360/5562 BY PERCENTAGE CLOSE UP 52w high/low Joyas Intl 4.7
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    • 81 12 BY CENTS CLOSE DOWN 52w high/low DBXT USDIGIfl US$ ***** -447.2 -1.3 *****/***** DBXT AUDCS SG$ ***** -337.0 -1.4 *****/***** DBXT AUDCS AU$ ***** -336.5 -1.4 *****/***** SPDR DJIA US$ ***** -146.5 -0.6 *****/***** Lyxor AsiaIT US$ 3669 -79.1 -1.6 3993/3300 BY PERCENTAGE CLOSE DOWN 52w high/low UOB MB
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    • 81 12 VOL CLOSE($) CHANGE Anchun Intl 1,464.0 0.063 +0.008 +14.55 TSH 993.0 0.101 +0.005 +5.21 Changjiang Fert 30.0 0.030 -0.010 -25.00 Sunpower 498.0 0.142 +0.018 +14.52 Smartflex 3,601.0 0.162 -0.024 -12.90 C&G Env Protect 11,834.0 0.290 +0.010 +3.57 Asia Fashion 988.0 0.094 +0.009 +10.59 Star Pharm 499.0 0.074 +0.007
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    • BROKERS’ TAKE
      • 134 12 HOLD Nov 17 close: S$2.16 Fair Value: S$2.30 OCBC Investment Research, Nov 17 WHILE Q1FY15 revenue eased 0.5 per cent year-on-year to S$4.3 billion, Ebitda (earnings before interest, taxes, depreciation and amortisation) fell 11.9 per cent to S$219.4 million, Olam attributed the fall to adverse price movement in
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      • 112 12 BUY Nov 17 close: S$0.715 Target price: S$0.80 DBS Vickers Research, Nov 17 Q3FY14 core results within expectations; drop in headline profits largely due to lower associates’ contribution. Expect quarter-on-quarter growth in Q4FY14, which is seasonally stronger; projecting growth of 18 per cent for FY14 forecast.
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      • 198 12  -  Compiled by Chan Yi Wen BUY Nov 17 close: S$0.635 Target price: S$1.12 Maybank Kim Eng Research, Nov 17 Q3FY14 net profit of US$15 million (-30 per cent year-on-year, +26.2 per cent quarter-on-quarter) was below forecast due to a US$5 million loss from its Mexican joint-venture,
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    • 417 13 CURRENCIES REUTERS London THE yen recovered from seven-year lows against the dollar on Monday but remained under pressure, having sunk across the board after shock data showed Japan’s economy slipping back into recession. The Japanese currency tends to rise as Tokyo’s stock market
      REUTERS  -  417 words
    • FOREX RATES
      • 471 13 NOV 17 A$ C$ Rmb Euro HK$ Ind Rs Rupiah Yen Won RM NZ$ Pak Rs Peso S$ Rand Sfr NT$ Baht Pound US$ Australia 0.990 5.371 0.700 6.801 54.086 107.032 1.017 9.606 2.934 1.103 89.515 39.366 1.137 9.713 0.841 26.911 28.764 0.559 0.877 Canada 1.010 5.427
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      • 155 13 Nov 17 Against S$ Against US$ Currencies Bid Offer Bid Offer S$/US$ to one unit of foreign currency: Australian dollar 1.1367 1.1370 0.8769 0.8770 Canadian dollar 1.1483 1.1491 0.8863 0.8858 Euro 1.6241 1.6248 1.2529 1.2532 NZ dollar 1.0300 1.0305 0.7946 0.7948 Sterling pound 2.0329 2.0333 1.5682 1.5683
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      • 22 13 NOV 17 S$ Bid Offer 1-month 1.2964 1.2968 2-months 1.2964 1.2968 3-months 1.2964 1.2967 6-months 1.2965 1.2968 Source: OCBC
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    • EQUITY BONDS WARRANTS FUTURES
      • 212 13 Most active Nov 17 Prem Expiry Vol Conv Exer Disc Gear-Mths Company Last Sale +or-('000) Ratio Price ing Left Rowsley Ltd W*****3 3.6 -0.4 ***** 1 18 23 OLS Enterprise W*****5 0.4 unch 6919 1 1 17 3.00 33 DBS MB eCW*****2 10.4 -2 6280 0.1
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      • 373 13 In local curr In S$ In US$ dy yr dy yr dy yr Nov 14 Index Change Change Change Change Change Change World Preliminary 1266.4 0.1 6.9 0.6 6.3 0.0 3.3 EAFE Preliminary 981.1 0.3 2.6 0.7 -2.6 0.0 -5.3 Europe Preliminary 1364.8 0.1 0.7
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      • 365 13 Nov 17 OPEN HIGH LOW SETT VOL OP/INT NIKKEI 225 INDEX FUTURES SPOT *****.38 *****.32 *****.43 Dec14 *****.00 *****.00 *****.00 *****.00 *****9 *****6 Mar15 *****.00 *****.00 *****.00 *****.00 63 3404 MSCI TAIWAN INDEX FUTURES SPOT 335.12 335.92 329.89 Nov14 334.00 337.10 329.50 331.00 ***** *****6 Dec14 334.00
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    • BANK RATES
      • 154 13 Nov 17 $S Offer Bid 0vernight 0.08 0.03 1-month 0.3750 0.2500 2-months 0.4375 0.3125 3-months 0.4375 0.3125 Overnight mode: 0.10 US$ Offer Bid 7 days 0.18 0.08 1 month 0.25 0.15 2 months 0.30 0.20 3 months 0.40 0.20 6 months 0.50 0.30 9 months 0.60 0.40 12
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      • 36 13 NOV 17 (S$) 1 mth 0.***** 2 mths 3 mths 0.***** 6 mths 0.***** 9 mths 12 mths 0.***** SWAP Offer rates (S$) 1 mth 0.***** 3 mths 0.***** 6 mths 0.***** Source: Thomson Reuters
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      • 59 13 NOV 17 Nov 17 GOVERNMENT BONDS Period Issue Coupon Maturity Close Day's code rate Bid High Low 2-Year NY*****F 3.75 01-Sep-16 105.78 5-Year N*****0H 1.625 01-Oct-19 100.64 10-Year NY*****H 3.000 01-Sep-24 106.08 15-Year NY*****E 2.875 01-Jul-29 102.51 20-Year NZ*****V 3.375 01-Sep-33 107.99 30-Year NA*****N 2.750 01-Apr-42 96.33 Note:
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    • AGRI METALS ENERGY
      • 212 13 NOV-14 Price Net change change Last Trade Agricultural Nov-14 CBOT Soybeans (US cents/bu) 1021.00 -29.50 -2.81% 14/11/2014 CBOT Soybean Oil (US cents/lb) 32.20 0.13 0.41% 12/12/2014 CBOT Wheat (US cents/bu) 560.50 6.75 1.22% 12/12/2014 Nov-14 LIFFE Cocoa (£/tonne) 1881.00 -8.00 -0.42% 12/12/2014 LIFFE Coffee (US$/tonne) 2074.00 -1.00 -0.05%
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      • 57 13 NOV 17 KLCE Palm Futures (RM/MT) Delivery Opening Sett Av Vol Open Month Range Price Price High Low Done Position Nov 14 2195.0 2208.0 2212.0 2195.0 444 9015 Dec 14 2208.0 2224.0 2228.0 2199.0 9232 ***** Jan 15 2217.0 2230.0 2234.0 2206.0 ***** ***** Feb 15 2229.0 2238.0
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  • DBS ASIAN LEADERS INSIGHTS
    • 1375 14  -  He may be one of the world’s most influential thinkers but these days, former diplomat Kishore Mahbubani is preoccupied with matters closer to home. BY DENYSE YEO days, home.BY DENYSE YEO HE’S spent more than 30 years in the foreign service, rising to the top of
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    • 225 14 BORN in Singapore in 1948 to Hindu Sindhi parents from Hyderabad who fled India during partition, Kishore Mahbubani grew up in a humble Onan Road one-bedroom house. As a teen, he did well at school and was awarded the President’s Scholarship in 1967, graduating with a first
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  • REAL ESTATE
    • 456 16 Company to open S’pore HQ for SEA businesses this year, expects to buy at least 1 property in region by Christmas BLOOMBERG Sydney WYNDHAM Worldwide Corp, parent of the world’s biggest hotel operator, plans to introduce its timeshare business in South-east Asia by
      BLOOMBERG  -  456 words
    • 419 16  -  By Lynette Khoo lynkhoo@sph.com.sg @LynetteKhooBT Singapore BIG Box, Singapore’s largest mega warehouse retail store, has obtained its temporary occupation permit (TOP) for its complex next to Jurong East MRT, and will open its doors in two months. For Singapore-listed consumer electronics supplier
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    • 896 16 BLOOMBERG London RUTH Marchand said her six-bed-room house in the leafy south London village of Dulwich would have sold within six weeks if she’d offered it earlier this year. Instead, she’s still waiting for the first bid two months after
      BLOOMBERG  -  896 words
    • 490 17  -  By S Jayasankaran btworld@sph.com.sg Kuala Lumpur BUCKING the trend among its peers, Malaysian property developer Matrix Concepts Holdings reported a 24.5 per cent jump in third-quarter earnings to RM45.1 million (S$ 17.5 million) on the back of RM149 million in
      490 words
    • 467 17 Number of publicly traded developers with liabilities above equity up to 136 out of 334, from 57 in 2007, Bloomberg data shows BLOOMBERG Singapore BUYERS of distressed loans are watching China’s property market closely as debt soars and growth falters.
      BLOOMBERG  -  467 words
  • Page 16 Advertisements
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  • Page 17 Advertisements
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  • ENERGY & COMMODITIES
    • 506 19  -  Analysts assume project will return 7% per annum By Pauline Ng btworld@sph.com.sg Kuala Lumpur PETRONAS is expected to start building a regasification terminal in Pengerang in Johor by the middle of next year. When completed in about 21/2 years, the 3.5-million-tonne-per-an-num
      PHOTO: BLOOMBERG  -  506 words
    • 487 19 BLOOMBERG Copenhagen SO far, the trustees of bankrupt OW Bunker A/S have identified a single car they say can be liquidated to start building funds with which to reimburse creditors. That’s according to John Sommer Schmidt, an Aarhus-based attorney and partner at Gorrissen Federspiel
      BLOOMBERG  -  487 words
    • 491 19 REUTERS Jakarta INDONESIA plans to review all permits, business processes and institutions connected to its oil and gas sector, the energy minister said, an overhaul the former OPEC (Organization of the Petroleum Exporting Countries) member hopes will avert a looming
      REUTERS; PHOTO: AFP  -  491 words
    • 396 19 REUTERS Kuala Lumpur MALAYSIAN state investor 1 Malaysia Development Bhd (1MDB) took a big step towards a planned US$3 billion initial public offering (IPO) for its power plant assets, filing a long-awaited application for a flotation that will reduce its huge debt burden,
      REUTERS  -  396 words
    • 414 19 REUTERS Melbourne ADANI Enterprises won support on Monday from an Indian government-owned bank and an Australian state to help it build a US$7 billion coal mine, defying a slump in coal prices to 5½-year lows that has stalled rival projects. The trading
      REUTERS  -  414 words
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  • TECHNOLOGY
  • Page 20 Advertisements
    • 172 20 .comdirectory YOURGANGWAY COMINGSOON! TOAN OCEANOFBUSINESSOPPORTUNITIES! The Business Times/Shipping Timesis opening up an exciting new “trade route” for businesses catering to the maritime, shipping and related industries with the upcoming launch of its Maritime And Shipping Directory. Here’s how this new advertising platform can help your business make a splash in
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  • CONSUMER
  • Page 21 Advertisements
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  • GOVERNMENT & ECONOMY
    • 508 22 Output falls 0.1 per cent, weighed down by declines at utilities, mines and automakers LATEST US DATA BLOOMBERG Washington INDUSTRIAL production in the United States unexpectedly dropped in October, weighed down by declines at utilities, mines and automakers that signal manufacturing started
      BLOOMBERG  -  508 words
    • 508 22 AFP Brussels THE eurozone trade surplus widened in September, official data showed on Monday, with a rise in exports offering rare good news for an embattled European economy that is worrying the world. The export turnaround, which breaks a three-month string of declines, comes just
      AFP  -  508 words
    • 526 22 REUTERS Sydney LAST week Mick Jagger, this week Indian Prime Minister Narendra Modi. Thousands of expatriate Indians thronged Sydney’s Allphones Arena on Monday, many travelling 1,000 kilometres on a train dubbed the Modi Express, to clap and cheer India’s best-known
      REUTERS; PHOTO: REUTERS  -  526 words
    • 786 22 60% of economists in Bloomberg survey say the ECB president will succeed BLOOMBERG Frankfurt MARIO Draghi will succeed in boosting the European Central Bank’s (ECB) balance sheet back towards US$3.75 trillion, though he’ll have to override some policymakers’ qualms
      BLOOMBERG; PHOTO: AFP  -  786 words
    • 309 22 REUTERS New Delhi INDIA’S central bank is in talks with the government to increase curbs on gold imports, deputy governor SS Mundra said on Monday, reflecting policymakers’ concerns that a jump in inbound shipments will worsen the country’s trade deficit. Mr
      REUTERS  -  309 words
    • 445 23 Subsidised petrol will rise to 8,500 rupiah a litre from 6,500 rupiah from Tuesday; move will free up funds for programmes to help poor and boost economic growth BLOOMBERG AFP Jakarta INDONESIAN President Joko Widodo on Monday raised fuel
      BLOOMBERG; AFP  -  445 words
    • 756 23 BLOOMBERG Bangkok THAILAND is heading for a second straight year of slumping exports, something the one-time tiger economy hasn’t experienced in at least two decades and a loss that magnifies challenges for the military-run government. Shipments abroad, which make up the
      BLOOMBERG  -  756 words
    • 294 23 They make up largest contingent among foreign students last year, with India second, followed by South Korea BLOOMBERG New York THE number of Chinese students at US universities jumped 75 per cent in three years to almost 275,000 in the
      BLOOMBERG  -  294 words
    • 402 23 BLOOMBERG Shanghai CHINA’S bad loans jumped by the most since 2005 in the third quarter, fuelling concern that a cooling economy will be further weakened as banks limit lending to avoid credit risks. Non-performing loans rose 72.5 billion yuan (S$15.4 billion) from
      BLOOMBERG  -  402 words
    • 522 23 BLOOMBERG Brisbane GERMAN Chancellor Angela Merkel has said that she has “very good German reasons” for convincing the UK to stay in the European Union, saying that the EU needs Britain’s innovation and its broad global perspective. The UK is an
      BLOOMBERG; PHOTO: AFP  -  522 words

  • Page 23 Advertisements
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  • TRANSPORT
    • 676 24 imports now account for 14%; German cars make up 71% of foreign cars sold this year REUTERS Seoul SOUTH Korea is on track to spend more on vehicle imports from Europe this year than it earns from exports the other way, for the first
      REUTERS; PHOTO: REUTERS  -  676 words
    • 480 24  -  By Nisha Ramchandani nishar@sph.com.sg @Nisha_BT Singapore GROWTH in international air passengers eased in September, rising 2.3 per cent year on year versus 4.5 per cent in August. According to the monthly traffic monitor by the International Air Transport Association (Iata), premium
      480 words
    • 906 24 REUTERS Orlando IN recent weeks, hundreds of thousands of owners of Toyota cars in the United States have received a stern warning by first-class mail: Immediately drive to your dealer to replace a flawed airbag and, in the meantime, don’t let anyone sit
      REUTERS  -  906 words
    • 699 24 NYT New York THE families of people killed or injured in crashes involving General Motors cars that had a deadly ignition switch defect will have an extra month to submit claims for payment under GM’s victim compensation programme. Kenneth Feinberg,
      NYT; PHOTO: AFP  -  699 words
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  • Page 25 Advertisements
    • 3898 25 VOLUNTARY UNCONDITIONAL CASH OFFER by UNITED OVERSEAS BANK LIMITED (Company Registration No.: *****0026Z) (Incorporated in the Republic of Singapore) for and on behalf of VST HOLDINGS LIMITED (Company Registration No.: *****7) (Incorporated in the Cayman Islands) (Hong Kong Stock Code: 856) to acquire all the issued and paid-up ordinary shares
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  • OMAN NATIONAL DAY
    • 592 27  -  The Sultanate extends a hand of friendship and peace to various countries of the world.BY world.BY ZAKARIYA HAMED HILAL AL SAADI T The writer is the Oman Consul-General to Singapore ON NOV 18 every year, Omanis celebrate their National Day, recalling the anniversary of the
      THE STRAITS TIMES FILE PHOTOS  -  592 words
    • 842 28  -  Singapore’s non-resident ambassador to Oman waxes lyrical about the ultanate’s opportunities and the warmth of its people.BY VINCENT WEE people.BY VINCENT WEE SINGAPORE’S non-resident ambassador to Oman, Teng Theng Dar, is enthusiastic about the country he is representative to as he effuses about Oman’s attractions. “To
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    • 536 30  -  The Singapore Press Club organised a visit to Oman earlier this year.BY year.BY VINCENT WEE AS PART of efforts to build up SingaporeOman relations, the Singapore Press Club earlier this year organised a visit to the country. The trip included visits to historical and tourist
      PHOTOS: STEPHEN CHEN  -  536 words
    • 632 30  -  Oman offers desert experiences, heritage sites and souk shopping. BY FAUZIAH HANIM AHMAD shopping.BY FAUZIAH HANIM AHMAD T The writer is a communications specialist IN 2013, I decided to end the year in Oman, a country that I only came to know back in
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    • 1429 32  -  Oman’s plans include economic development and construction of sea, land and air transport networks.BY networks.BY VINCENT WEE OMAN’S 44th National Day is a worthy reminder of the Omani Renaissance which continues to this day in its pursuit of the achievement of further progress and prosperity for
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    • 718 32  -  By Vincent Wee SEVERAL Singapore companies have already become first movers into the Oman market. These include leading eGovernment solutions and services provider CrimsonLogic and specialist steel maker BH Global Marine. Rotary Engineering and various units of the ST Engineering group have also won contracts
      718 words
    • 771 32  -  The Duqm Special Economic Zone is a good example of Oman-Singapore collaboration at many levels. BY VINCENT BY VINCENT WEE THE Duqm Special Economic Zone (SEZ), located in the Al Wustah region in Central Oman, some 550 km south of the nation’s capital Muscat, is slated
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  • Page 28 Advertisements
    • 136 28 Yet Another By His Excellency Our warmest congratulations best wishes to the Sultanate and people of Oman on the occasion of your 44th National Day As a business partner of the Omani community BH Global Corporation Ltd greatly appreciates our bi-lateral ties of friendship and cooperation, and looks forward to
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  • Page 30 Advertisements
    • 238 30 Smart thinking. Safe hands. We congratulate the Sultanate and the people of Oman on their 44 th National Day R—ROTARY T m '-a r:....I br Stfir .f. ytS UD W < Extraordinary Heritage, Uncompromising Expertise ROTARY is one of the region’s leading oil and gas infrastructure services companies with extensive
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  • Page 31 Advertisements
    • 30 31 Congratulations! Oman’s National day Wishing the Sultanate success and prosperity. As a strategic partner, CrimsonLogic continues to jointly set new global-standards in Oman’s eGovernment journey. CrimsonLogic VT i Solutions. Simplified.
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  • 985 33 Vessel Voy Sin Pusan Tarawa Honiara Santo Port Vila Noumea Lautoka Suva Nukualofa Apia Pago Pago Papeete Lae P. Moresby Townsville APL Riyadh 060E 25 Nov 19 Dec 02 Jan 06 Jan 09 Jan 12 Jan 14 Jan 15 Jan 19 Jan 21 Jan 21 Jan 26 Jan
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  • Page 33 Advertisements
    • 189 33 USE THIS SPACE TO SELL CALL JOE WONG AT 9620 1327 TO ADVERTISE THE BUSINESS TIMES Shipping times Experienced Shf p maintenance services wanted. Can they find your services here in the Shipping Times? THE BUSINESS TIMES TO ADVERTISE, CALL JOE WONG AT 9620 1327 4k 7 Announce Your Corporate
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  • OPINION
    • 584 34 EDITORIAL THE G-20 summit last week touched all the right bases in setting out what needs to be done to get that extra 2.1 percentage points of global growth above currently projected levels over the next five years. So
      584 words
    • 755 34  -  THE BOTTOM LINE By Robert Samuelson THE WASHINGTON POST WRITERS GROUP Washington WE Americans are increasingly given to political escapism. Regardless of our place on the political spectrum Republican or Democrat, liberal or conservative we prefer self-serving fictions to messy realities. We avoid unpopular
      THE WASHINGTON POST WRITERS GROUP  -  755 words
    • 1198 34  -  US and China will continue to have an interest in strengthening their ties with their client states and trade partners, while at the same time reaching global deals that serve their interests By Leon Hadar Washington THE collapse of the bipolar international system the US
      PHOTO: REUTERS  -  1,198 words
    • 667 35  -  OIL SUPPLY DEMAND By Nick Cunningham DESPITE what appears to be a saturated oil market in 2014, oil producers around the world will struggle to meet rising demand over the next few decades. In its latest annual World Energy Outlook (WEO),
      667 words
    • LETTERS TO THE EDITOR
      • 447 35  -  Adrian Chan First Vice-Chairman Singapore institute of Directors R Dhinakaran Vice-President, institute of Singapore Chartered Accountants (ISCA) and chairman of ISCA Corporate Governance Committee WE REFER to the letter “Are busy directors cutting corners or really supermen in suits” by Associate
        447 words
      • 424 35  -  S Nallakaruppan I’VE been a trading representative for the past 20 years and the silence in the dealing rooms of late is deafening. It is now quieter than the library! When was the last time the Singapore Exchange management visited our dealing rooms?
        424 words
    • 1084 35  -  Despite the grouping’s unwieldy arrangement, it is the best we have to tackle the long list of global governance deficiencies. BY STEPHEN GRENVILLE deficiencies.BY STEPHEN GRENVILLE T The writer is NTUC professor of international economic relations at the S Rajaratnam School of International
      PHOTO: BLOOMBERG  -  1,084 words


  • LIFE & CULTURE
    • 887 36 Judge rules bulk of wealth gained through ‘passive’ means, not via the efforts or skills of either spouse REUTERS New York JUST how much of Harold Hamm’s fortune was amassed through his skill and hard work? That was a key question that Oklahoma divorce
      REUTERS; PHOTO: REUTERS  -  887 words
    • 1103 36 BLOOMBERG Portland ELVIS Presley boasts 12.4 million “likes” on Facebook and 187,000 followers on Twitter and recently released a duet with Barbra Streisand. Never mind that he died in 1977. And that’s just the beginning for the King of Rock ’n’ Roll and other
      BLOOMBERG; FILE PHOTO  -  1,103 words
  • Page 36 Advertisements
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    • 60 36 HOT PROPERTY E9 PREMIUM @WOODLANDS New B2 Ramp-up. 7-storey 7.5m ceiling. Column free. 1700-3562sf(usable space) KAKI BUKIT ROAD 1 Factory. Size 3509 Sqft. 3 parking lots. Asking 1.8M Neg! LINK AMK, near MRT. Good facing, grd flr, ramp up unit, 3-sty terr. Fr 2153-10,000sf. FACTORY SPACE FOR SALE Check this
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  • Page 36 Miscellaneous
    • 308 36 CRYPTIC CROSSWORD Across 1 Swell dance skirt (8) 5 Two articles about spymaster with girl (6) 9 Learning game in publication (9) 11 I must enter remainder to take exam again (5) 12 Spinner, bowler, maybe seen in film (3,3) 13 Start to play the part of Evita abroad (8)
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  • SME
    • 1085 37  -  SMEs can draw lessons from OSIM, ichitan and MAS, which are no longer small firms but global players that dominate markets which MNCs will find hard to penetrate TTTHE VIEW FROM NTU PROFESSORS By Lewis Lim, Wee Chow Hou T Dr Lim is an
      PHOTO: OSIM  -  1,085 words
    • 969 37  -  COMMENTARY By Henrik Bresman, Vinika Rao T Henrik Bresman is associate professor of organisational behaviour at Insead and academic director of The HEAD Foundation. He is also co-director of the Management Acceleration Programme, part of Insead’s suite of executive education offerings.
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